Your client is facing a possible Personal Holding Company Tax (Section 541) or Accumulated Earnings Tax (Section 531) in 2018. Using the information below compute the Personal Holding Company Tax (Section 541) due (and compute the Effective Tax Rate for this manufacturing company) based on the following facts:

Taxable Income $522,000

Dividends Received Deduction 47,000

Accumulated Earnings Credit 36,100

Dividends Paid 38,000

Federal Income Taxes 109,620

Excess Charitable Contributions 23,400

What is the personal Holding Company Tax/Effective Tax Rate?

A.$88,164.00 (37.89%).

B.$79,596..00 (36.25%).

C.$66,024.00 (33.65%).

D.$80,705.00 (36.46%).